The state University of New York at Albany's Center of Excellence in Nanoelectronics, Infineon Technologies AG, and Genus Inc. have signed a letter of intent to enter into a $12 million, three-year partnership to develop computer chip technology that incorporates nanotech materials, according to state officials.

Infineon (NYSE: IFX) is a computer chip-maker based in Munich, Germany with $7.1 billion in worldwide sales last year. Genus Inc. (Nasdaq: GGNS) is based in Sunnyvale, Calif., and makes capital equipment for advanced semiconductor manufacturing.

Under the new program, global technical experts and state-of-the-art resources in nanoscale materials science will be located at the Albany NanoTech research site on the corner of Fuller Road and Washington Avenue Extension in Albany. Nanoscale is the equivalent of thousands of times smaller than a human hair.

The project will bring together researchers and engineers from Infineon, Genus and Albany NanoTech, who will work together at the UAlbany Center of Excellence in Nanoelectronics.

"This new partnership is tremendous news for the Capital Region and will build upon our efforts to attract high-tech investments and jobs here and across Upstate New York," Gov. George Pataki said.

The news is one of the biggest announcements about a company or companies locating operations at Albany NanoTech since Tokyo Electron Ltd. announced in 2002 plans to locate its first overseas research and development center there. Back in April 2003, Infineon expressed interest in Albany NanoTech.

"Infineon recognizes Albany NanoTech's tremendous potential to become a world-class center of competence in leading the nanotechnology revolution," said an Infineon spokeswoman at the time.

Alain Kaloyeros executive director of Albany NanoTech and founding dean of the School of NanoSciences and NanoEngineering, said the agreement will "significantly strengthen our research, educational, and work force training programs, and our ability to better serve a key sector of our industrial customer base."

Wilhelm Beinvogl, chief technology officer of Infineon's Memory Products Division, said the agreement was an important component of Infineon's research and development portfolio. He said he looked forward to working with the proposed nanotechnology college that Pataki announced recently in his State of the State address.

Bill Elder, chairman and CEO of Genus Inc. called Albany NanoTech the "best funded university program in the United States, especially now with its evolution into the first college for nanotechnology in the world."

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